The Federal Deposit Insurance Corporation recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities. It also helpfully provides some best practices for mitigating consumer compliance risks.
The report, published June 13, provides a high-level overview of consumer compliance issues identified in approximately 1,200 consumer compliance examinations conducted by the FDIC in 2018. “Overall, supervised institutions demonstrated strong and effective management of consumer compliance responsibilities,” the FDIC said.
